American mining company Stronghold Digital Mining with a focus on the use of green energy expects to raise $ 105 million following an IPO on the Nasdaq.
The shares can be listed under the SDIG ticker.
Stronghold Digital Mining converts waste coal into energy used to mine Bitcoin. The regulator of the state of Pennsylvania, where the company is based, has given the energy carrier a green status along with hydropower.
The company's equipment fleet includes 1800 ASIC devices with a hash rate of 85 PH/s.
Trending: Smart Contracts Audits Startup Hexens Closed $4.2 M Seed Funding
In April, Stronghold Digital Mining agreed to supply 27,300 miners with a processing capacity of 2,600 PH/s. The company expects to increase the aggregate hash rate to 3000 PH/s by the end of this and to 5300 PH/s by the end of next year.
According to the company, after the deployment of the equipment, the cost of mining one bitcoin will be $ 3,000.
Stronghold Digital Mining plans to sell mined coins only to cover operating costs and capital expenditures. Coinbase Global stores coins.
Trending: Finder: Bitcoin could hit $80,000 by 2025
Recall that in June, the mining company raised $ 105 million following two private placements of securities.